Company successions

According to estimates by the Bonn Institute for SME Research (IFM), 22,000 successors will be sought at German companies annually up to 2014, because the previous owners are too old, too ill or have passed away.

Company successions commonly take place within the family. Timely succession planning is then important, in the course of which the owner's children are carefully familiarised with the task of running a business and the older management generation lets go of the reins in good time. We are able to develop the most effective models for successions within the owner's family with regard to tax and management aspects.

It is also important to evolve a contingency plan in good time, in order to organise succession and all relevant procedures in the event of the currently active owner's sudden death.

When handover of the company within the family is not an option because there are no children or none of the owner's children is interested in the family business, sale of the company to external parties is necessary. These may be the existing management (MBO), new entrepreneurs, competitors, suppliers, customers or an investment company.

Whichever form of company succession you envisage, timely and adequate information of the workforce, customers and suppliers is also necessary prior to handover.